Maxim Group Reaffirms Their Buy Rating on GW Pharma

By Austin Angelo

In a report released today, Gabrielle Zhou from Maxim Group reiterated a Buy rating on GW Pharma (NASDAQ: GWPH), with a price target of $135. The company’s shares opened today at $110.50.

Zhou said:

“GW pharmaceuticals announced publication of data from the P3 study of Epidiolex (oral CBD, cannabidiol) in pediatric Dravet Syndrome in The New England Journal of Medicine (NEJM).”

According to TipRanks.com, Zhou is ranked 0 out of 5 stars with an average return of -16.3% and a 26.0% success rate. Zhou covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, ContraVir Pharmaceuticals Inc, and Sciclone Pharmaceuticals.

GW Pharma has an analyst consensus of Strong Buy, with a price target consensus of $169.67.

Based on GW Pharma’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.04 million and GAAP net loss of $42.99 million. In comparison, last year the company earned revenue of $3.75 million and had a GAAP net loss of $23.84 million.

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GW Pharmaceuticals Plc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutics from proprietary cannabinoid product platform in a broad range of disease areas. The company operates through the following segments: Commercial, Sativex Research & Development, and Pipeline Research & Development. The Commercial segment distributes and sells the commercial products and promotes Sativex through collaborations with pharmaceutical companies for the currently approved indication of spasticity due to multiple sclerosis. The Sativex Research & Development segment seeks to maximize the potential of Sativex through the development of new indications. The Pipeline Research & Development segment seeks to develop cannabinoid medications other than Sativex, which are using the proprietary cannabinoid technology platform. The company was founded by Geoffrey W. Guy and Brian Whittle in 1998 and is headquartered in Cambridge, the United Kingdom.